Wrapping up another week, Tesla (NASDAQ:TSLA) is continuing its winning streak. Today, TSLA stock is up by 3.5% already and looks like it will continue rising. After a rocky start to the week, the electric vehicle (EV) innovator has regained impressive momentum, pulling into the green for both the week and the month.
This in mind, it’s no surprise the company has seen plenty of good news over the last few days. Yesterday saw Wall Street preparing for turbulence as the U.S. Federal Reserve announced its first rate hike, but bullish energy helped names like TSLA stock rise.
Of course, the week did begin with some eyebrow-raising headlines. Questions arose as to what rising vehicle costs would mean for Tesla sales. If its performance is any indication, though, investors don’t have much to be worried about.
Let’s take a look at the top headlines Tesla investors should be watching now.
TSLA Stock News: Top Headlines of the Week
Tesla raises prices for second time in days on rising costs
Starting off with some bad news, Tesla made an important announcement at the top of the week. CEO Elon Musk tweeted that Tesla was facing significant inflationary pressures. According to Reuters, the company followed this by saying it would raise EV prices due to increased costs. This quickly led to considerable speculation. For some investors, it sounded like a way to ensure sales decreased. Others maintained, however, that the company’s popularity and brand would keep it at the front of the EV race. Given how quickly TSLA stock rebounded, it’s safe to say the latter argument is holding true.
Tesla still dominates US electric car market, and it’s not even close
This second headline from Electrek isn’t surprising, but it is worth noting. With competition mounting from both EV startups and legacy automakers, some critics have speculated that Tesla is in danger of losing market share. However, reports indicate this fear is ill-founded. Data cited from Experian demonstrates that the number of Tesla vehicles being registered across the U.S. far exceeds other makes. Tesla was already the most searched car brand; now the data shows many of those searches are turning into purchases.
Tesla’s Elon Musk Tweets That He’s Working On “Master Plan Part 3”
Anyone who follows Tesla remembers Elon Musk’s first master plan. According to InsideEVs, Musk released his original in 2006 and its second part 10 years later. Now, the CEO tweeted yesterday that he’s working on a third part. While no further details were given, the six-word tweet was quick to send Twitter (NYSE:TWTR) buzzing. Tesla is still at work perfecting some of the finer points of Master Plan Part 2, which included full self-driving (FSD). However, the buzz that comes from this type of anticipation will likely help drive TSLA stock up as investors wait for further details.
Tesla restarts production at Shanghai plant after two-day stoppage -sources
It wasn’t all sunshine for Tesla this week, though. Per Reuters, more bad news for the company came out of China. With Covid-19 cases spreading, China’s government implemented new restrictions for many cities and factories, including Tesla’s Shanghai gigafactory. Tesla resumed production after two days of being closed down. Moving forward, the company says it will continue to comply with restrictions. While few other details have been provided, investors should take comfort in the fact that Tesla’s production process is not being completely impeded, even while China locks down entire cities.
Modified Tesla Model S Plaid Outruns Porsche Taycan Turbo S at VIR
Recently, speculation has risen that one of the biggest names in luxury auto making is about to challenge Tesla. Porsche’s (OTCMKTS:POAHY) Taycan Turbo S has turned more than a few heads with its sleek design. However, although it could certainly rival Tesla’s more expensive vehicles, a recent race at the Virginia International Raceway (VIR) suggests TSLA is still the one to beat. According to Car and Driver, Tesla’s Model S Plaid “fitted with aftermarket brakes” finished with a better lap time than the Taycan Turbo S. At least for now, it seems that consumers can pay less for a Tesla EV than an electric Porsche and still walk away with a faster car.
Tesla could eventually make flying aircraft: analyst
Where is Tesla’s third act going to take it? According to Morgan Stanley’s Adam Jonas, the company could go from the roads to the sky. As Yahoo! Finance reports, the analyst recently speculated that the next logical step for Tesla is to focus on electric vertical takeoff and landing (eVTOL) aircraft. Jonas foresees a branch of the company called “Tesla Aviation.” Given Elon Musk’s interest in aerospace technology, this certainly doesn’t seem far beyond the realm of possibility. Further speculation of this venture moving forward could drive TSLA stock even higher.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
